Inovance Technology announced the construction of a new energy vehicle parts production base in Suzhou

Shenzhen Inovance Technology Co., Ltd. announced that its holding subsidiary Suzhou Inovance United Power Systems Co., Ltd. plans to invest in the construction of a new energy vehicle parts production base in Suzhou. The total investment of the project is expected to be no more than 5 billion yuan, and will include the construction of production workshops and related facilities such as stators, rotors, electronic controls, power supplies, and assemblies. This move aims to expand the company's production capacity to meet the rapidly growing demand for products related to the new energy vehicle business. The construction period of the project is expected to be no more than 5 years, and the specific implementation will be adjusted according to actual conditions.